Baidu Stock Price Surge

Shares of the Chinese giant Baidu advanced around 4% in after-hours trade coming from stronger than estimated data for the third quarter.

On an annual basis, the stock price of Baidu has slipped near to 32%.

Revenue reached 28.08 billion yuan ($3.93 billion, according to the earnings release exchange rate).

Now, Baidu shares trade $ 107.36 per share, which is a decline of $0.69 or 0.64% from the previous close of $108.05.

The daily range is from $ 106.62 — 109.09, while the trading volume is 4.259M. 

In addition, not taking into account items, earnings per share stood at 12.61 yuan, coming above forecasts but reflecting 34% year-on-year decline.

Furthermore, the Chinese firm has been looking to diversify revenues, and reduce reliance on its core search business.

Additionally, Revenue from iQiyi jumped to 7.4 billion yuan ($1.04 billion), an incline of 7% on an annual basis. What is even more interesting is that Baidu has also been trying to stimulate its mobile offering.

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